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| Image: Flickr User - Gobierno de Chile |
By Dingding Chen
It is still uncertain whether the TPP deal will significantly hurt China’s economy.
On October 5, most Chinese were still enjoying their “Golden Week” national holiday. However, at the same time, a huge development occurred halfway across the world that might have a fundamental effect on their lives. This was the announcement that the long-delayed Trans-Pacific Partnership (TPP) deal was finally reached, thanks to heavy pressure fronted by the United States.
This landmark deal could have huge economic, political, and geopolitical consequences. For example, many prominent economists have already decried the deal for giving unfair advantages to big corporations. The most interesting implication, however, is how this landmark deal could affect U.S.-China relations.
Indeed, as U.S. President Barack Obama has said before, the TPP deal is meant to demonstrate that the United States, not China, should write the rules for global trade. Many also see the TPP deal as a centerpiece of America’s “pivot to Asia” strategy, aimed at pressuring China. Whatever the main purpose of the TPP, most Chinese analysts view it as a containment strategy directed at Beijing, trying to exclude China from the global trade network and hurt its economy.
Read the full story at The Diplomat